stamp duty

Understanding the Paradigm to Locate Correct Stamp Duty on Your Instrument

Corporate Law - As per the general understanding of ours on the stamp act ‘it’s a state matter and every state will prescribe its rules and regulation to govern the same‘ for every instrument we have to look for the particular Stamp Act of the particular state. Through this article we are trying to give you a broad […]...

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Guidance Note on Payment of Stamp Duty on Share Certificates in Haryana

Corporate Law - 1. TIME PERIOD FOR PAYMENT OF STAMP DUTY ON SHARE CERTIFICATES: Pursuant to Section 56 of the Companies Act, 2013, Share Certificates must be delivered within a period of 2 months in case of subscribers to memorandum and allotment of securities and within a period of 1 month from the date of receipt of instrument […]...

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Stamp duty on Issue and Transfer of Shares and Debentures

Corporate Law - The amended provisions of the Indian Stamp Act, 1899 and The Indian Stamp (Collection of Stamp Duty through Stock Exchanges, Clearing Corporations and Depositories) Rule, 2019 brought through Finance Act, 2019 came into force w.e.f 1st July, 2020. Thrоugh the sаid аmendments, the Сentrаl Gоvernment hаs сreаted the legаl аnd ins...

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MCA SH 7 Fees and Stamp duty in Maharashtra

Corporate Law - Stamp Duty on MOA Stamp duty shall be Rs. 1000 on every Rs.5 Lakhs of amount of increase in authorised capital or part thereof subject to a maximum of Rs. 50 Lakhs of stamp duty. It means addition in the authorised capital will be charged with the stamp duty @ 0.20% Increase in Authorised Capital […]...

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Payment of Stamp Duty on Shares

Corporate Law - A share certificate is a certificate given to the shareholder of the company in the form SH-1. Share certificate being an instrument requires stamping and Stamp duty on share certificate is a state-related matter where delay in payment of stamp duty appeals penalty. Firstly, Stamp duty on share certificate has to be paid at the time of ...

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Extend time limit for registering property documents in Maharashtra

Corporate Law - Yourself was kind enough in giving concessions up to 30.04.2021, for registration of docs, on which stamp duty is paid on or before 31.12.2020. But, due to sudden declaration of lockdown and restriction on movements, many people are not able to submit docs for registration....

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Maharashtra budget 2021- Concession in Stamp Duty to Women

Corporate Law - Concession in Stamp Duty by 1 percent over the prevailing rate exclusively to Women, provided the transfer of house property or registration of sale deed is in the name of women. Increasing State Excise Duty to Rs. 220 percent of manufacturing cost or Rs. 187 per proof litre whichever is high on branded country liquor only....

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Stamp duty Act Amendments & FY Year Extension Rumor

Corporate Law - Government broadens pertinence of stamp duty by 3 months from 1st April 2020 to 1st July 2020 The administration has not broadened the current 2019-20 financial year and it will end as planned on March 31, the finance minister said on 30th March 2020. Press Trust of India incorrectly revealed that the new financial year will begin fro...

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E-stamping the easy and cost-effective way to pay stamp duty

Corporate Law - Paying stamp duty while purchasing or transferring a property is often a long-drawn process. You need to go to the registrar's office and await your turn, or seek a broker's help to get the job done with minimum fuss. But there is yet another way -- ...

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After Delhi more states expected to levy stamp duty on trades

Corporate Law - “The imposition of stamp duty by states has become a problem. The concept was to validate a trade; it has been converted into a tax. Within the next few months, almost all states will impose it. An easy source of revenue, it’s mindless application of law,” said a member of the Association of NSE Members of India (Anmi), an associati...

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Refund amount collected as Stamp Duty on Bills of Entry filed for Import: HC

Ramratna Wires Ltd. Vs State of Gujarat (Gujarat High Court) - Ramratna Wires Ltd. Vs State of Gujarat (Gujarat High Court) The issue raised in this writ application as regards the legality and validity of collecting the stamp duty on the Bills of Entry is no longer res-integra in view of the pronouncement of this Court in the case of State of Gujarat and other...

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Section 50C not applies if Market Value of Property reduced due to Defect in Property Title

Aruna Kommuri Vs ACIT (ITAT Hyderabad) - The issue under consideration is whether the provisions of section 50C of the Act can be applied in cases where the market value of the property is reduced due to the defect in the title of the property?...

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Refund Excess amount of Stamp Duty paid: MP HC

Brilliant Foundation Vs State of Madhya Pradesh and others (Madhya Pradesh High Court) - In the present case, respondent rejected the refund of excess amount of stamp duty paid on the ground that the said provision does not apply to the case of the petitioner/company as ad-valorem duty was paid at 1% and not at 5% of the market value....

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Non consideration of sale value approved by Charity Commissioner by Collector of Stamps in adverting value of trust property was not justified

Crystal Construction Company Vs Additional Controller of Stamps (Bombay High Court) - Collector of Stamps committed a manifest error in not at all adverting to the fact that the Charity Commissioner had determined the value of the trust property by following requisite process to ensure the best value, and determining the market value of the trust property on the sole premise that the...

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Validity of trust deed for stamp duty cannot be determined by DC: HC

Sri B R Jagadhish Vs District Registrar & Deputy Commissioner for Stamps (Karnataka High Court) - Deputy Commissioner for Stamps (DC) erroneously directed assessee to pay stamp duty under Article 28(a) of the Stamp Act without properly examining the recitals of the document where the relationship of the donor and the donee was clearly mentioned and without looking into the provisions of Sections...

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1% lesser stamp duty for property purchased by Women in Maharashtra

Order No.Mudrank-2021/110R.12/CR.107/M-1 (Policy) - (31/03/2021) - Government of Maharashtra reduces the stamp duty by 1% on Agreement to Sell / Conveyance of residential property executed in favour of woman/women purchasers, with effect from 01.04.2021. ORDER Revenue & Forest Department, Madam Kama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai-32, Dated the ...

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Amendments in Indian Stamp Act, 1899 & Rules from 1st July 2020

Release ID: 1635399 - (30/06/2020) - Implementation of Amendments in the Indian Stamp Act, 1899 and Rules made from 1st July, 2020 for Rationalized Collection Mechanism of Stamp Duty across India with respect to Securities Market Instruments...

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No Extension of FY- Notification relates to Indian Stamp Act, 1899

Notification No. S.O. 1226(E). - (30/03/2020) - Recently a message is circulating on Social Media which claims that Financial Year 2019-20 ending on 31.03.2020 is been extended to end on 30.06.2020. With this message a Government notification issued by Ministry of Finance is also been circulated. Here we would like to clarify that this notificati...

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Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) (Second Amendment) Rules, 2020

Notification No. G.S.R. 226(E) - (30/03/2020) - Today Government notifies Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) (Second Amendment) Rules, 2020 which further amended further amend the Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositor...

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Amendments to Indian Stamp Act, 1899 applicable from 01.04.2020

S.O. 115(E), S.O. 116(E), S.O. 117(E) - (08/01/2020) - Central Government appoints 01.04.2020 instead of 9 day of January, 2020, as the date on which the provisions of Part I of Chapter IV related to Amendments to Indian Stamp Act, 1899 which were notified by Finance Act, 2019 (7 of 2019). MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Del...

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Recent Posts in "stamp duty"

Understanding the Paradigm to Locate Correct Stamp Duty on Your Instrument

As per the general understanding of ours on the stamp act ‘it’s a state matter and every state will prescribe its rules and regulation to govern the same‘ for every instrument we have to look for the particular Stamp Act of the particular state. Through this article we are trying to give you a broad […]...

Read More
Posted Under: Corporate Law |

Guidance Note on Payment of Stamp Duty on Share Certificates in Haryana

1. TIME PERIOD FOR PAYMENT OF STAMP DUTY ON SHARE CERTIFICATES: Pursuant to Section 56 of the Companies Act, 2013, Share Certificates must be delivered within a period of 2 months in case of subscribers to memorandum and allotment of securities and within a period of 1 month from the date of receipt of instrument […]...

Read More
Posted Under: Corporate Law |

Extend time limit for registering property documents in Maharashtra

Yourself was kind enough in giving concessions up to 30.04.2021, for registration of docs, on which stamp duty is paid on or before 31.12.2020. But, due to sudden declaration of lockdown and restriction on movements, many people are not able to submit docs for registration....

Read More
Posted Under: Corporate Law |

1% lesser stamp duty for property purchased by Women in Maharashtra

Order No.Mudrank-2021/110R.12/CR.107/M-1 (Policy) 31/03/2021

Government of Maharashtra reduces the stamp duty by 1% on Agreement to Sell / Conveyance of residential property executed in favour of woman/women purchasers, with effect from 01.04.2021. ORDER Revenue & Forest Department, Madam Kama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai-32, Dated the 31st March, 2021. Maharashtra Stamp Act ...

Read More

Stamp duty on Issue and Transfer of Shares and Debentures

The amended provisions of the Indian Stamp Act, 1899 and The Indian Stamp (Collection of Stamp Duty through Stock Exchanges, Clearing Corporations and Depositories) Rule, 2019 brought through Finance Act, 2019 came into force w.e.f 1st July, 2020. Thrоugh the sаid аmendments, the Сentrаl Gоvernment hаs сreаted the legаl аnd ins...

Read More
Posted Under: Corporate Law |

Maharashtra budget 2021- Concession in Stamp Duty to Women

Concession in Stamp Duty by 1 percent over the prevailing rate exclusively to Women, provided the transfer of house property or registration of sale deed is in the name of women. Increasing State Excise Duty to Rs. 220 percent of manufacturing cost or Rs. 187 per proof litre whichever is high on branded country liquor only....

Read More
Posted Under: Corporate Law |

MCA SH 7 Fees and Stamp duty in Maharashtra

Stamp Duty on MOA Stamp duty shall be Rs. 1000 on every Rs.5 Lakhs of amount of increase in authorised capital or part thereof subject to a maximum of Rs. 50 Lakhs of stamp duty. It means addition in the authorised capital will be charged with the stamp duty @ 0.20% Increase in Authorised Capital […]...

Read More
Posted Under: Corporate Law |

Refund amount collected as Stamp Duty on Bills of Entry filed for Import: HC

Ramratna Wires Ltd. Vs State of Gujarat (Gujarat High Court)

Ramratna Wires Ltd. Vs State of Gujarat (Gujarat High Court) The issue raised in this writ application as regards the legality and validity of collecting the stamp duty on the Bills of Entry is no longer res-integra in view of the pronouncement of this Court in the case of State of Gujarat and others Vs. […]...

Read More

Payment of Stamp Duty on Shares

A share certificate is a certificate given to the shareholder of the company in the form SH-1. Share certificate being an instrument requires stamping and Stamp duty on share certificate is a state-related matter where delay in payment of stamp duty appeals penalty. Firstly, Stamp duty on share certificate has to be paid at the time of ...

Read More
Posted Under: Corporate Law |

FAQs on Indian Stamp Act, 1899 Amendments & Rules

Frequently Asked Questions (FAQs) on Indian Stamp Act, 1899 Amendments and Rules made thereunder Q.1 Why amendments in the Indian Stamp Act, 1899 have been made? Answer: The amendments have been carried out with respect to securities market transactions. The present system of collection of stamp duty on securities market transactions has ...

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Posted Under: Corporate Law |

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